Why CrowdStrike Holdings Stock Jumped 12% This Week
Shares of CrowdStrike Holdings (NASDAQ: CRWD) are up 12.5% this week as of Thursday's close, according to data provided by S&P Global Market Intelligence, after the cybersecurity leader announced strong quarterly results and raised its full-year outlook on Tuesday.
On the former, CrowdStrike revealed that its fiscal third-quarter revenue grew 35% year over year to $786 million, translating to adjusted (non-GAAP) net income of $199.2 million, or $0.82 per share. Analysts, on average, were only expecting earnings of $0.74 per share on revenue of $777 million.
CrowdStrike's annual recurring revenue (ARR) grew 35% year over year to $3.15 billion as of Oct. 31, 2023, including $223.1 million of net new ARR added during the quarter. That makes it the first-ever pure-play cybersecurity stock to exceed the $3 billion recurring revenue mark. CFO Burt Podbere added that CrowdStrike achieved new quarterly records for adjusted operating margin (which expanded seven percentage points year over year to 22%), free cash flow (up 37% to $239 million), and net income.
Source Fool.com
CrowdStrike Holdings Inc Stock
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